No reason to panic, says Croat central bank

After the Credo Banka declared bankruptcy and had its license revoked, the Croatian National Bank (HNB) said it was "closely monitoring four more banks". These include Varazdinska and Karlovacka banks. No reason to panic, says Croat central bank However, said HNB Vice Governor Davor Holjevac, "there is no reason to panic because the banking system in Croatia is stable". "There is no reason to panic, because if anything in Croatia is stable, it is the banking system," Holjevac told Croatian television. According to a release issued by the HNB, the deposits in Credo Banka amounted to HRK 465 million (EUR 61.16 million). The HNB said in a release that the deposits were insured by the State Agency for Deposit Insurance and Bank Rehabilitation up to the amount of EUR 53,470 and the depositors would have the money at their disposal in a few days. The Split-based Credo Banka was established in 1993 and accounts for 0.44 percent of the Croatian banking sector's transactions. Its license was revoked due to criminal activity by the administration and majority holders.

No reason to panic, says Croat central bank

However, said HNB Vice Governor Davor Holjevac, "there is no reason to panic because the banking system in Croatia is stable".

"There is no reason to panic, because if anything in Croatia is stable, it is the banking system," Holjevac told Croatian television.

According to a release issued by the HNB, the deposits in Credo Banka amounted to HRK 465 million (EUR 61.16 million). The HNB said in a release that the deposits were insured by the State Agency for Deposit Insurance and Bank Rehabilitation up to the amount of EUR 53,470 and the depositors would have the money at their disposal in a few days.

The Split-based Credo Banka was established in 1993 and accounts for 0.44 percent of the Croatian banking sector's transactions. Its license was revoked due to criminal activity by the administration and majority holders.